Relation to the global economy and financial

Question

Assignment : Discussion-Understanding Financial Statements

In this assignment, you will learn to read and interpret financial statements. Understanding the picture these four-document summaries provide of a company's financial performance is critical to making decisions about its management and its relation to the global economy and financial markets.

Tasks:

Please put the following income statement and balance sheet terms in the proper order:

Taxes, Interest, gross profit, selling, general and administrative expenses, sales, depreciation, net income, cost of goods sold, EBITDA.
Please put the following balance sheet terms in the appropriate category as either short-term assets, long-term assets, short-term liabilities, long-term liabilities, and/or owner's equity:

Cash, accounts payable, accruals, property, plant and equipment, inventory, accounts receivables, paid in capital, retained earnings, notes payable, mortgage, accounts payable.

In terms of McGladrey and Pullen's "Reading & understanding financial statements," explain the balance sheet equation in 300 words or less.

Your initial post should be 750 to 1000 words long and demonstrate critical thinking and analysis. Apply APA standards to all citations of sources.

Write your initial response in 300-500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation

Do the following when responding to your peers:

Read your peers' answers.

Provide substantive comments by contributing new, relevant information from course readings, Web sites, or other sources;

building on the remarks or questions of others; or sharing practical examples of key concepts from your professional or personal experiences

Respond to feedback on your posting and provide feedback to other students on their ideas.

Make sure your writing is clear, concise, and organized;

demonstrates ethical scholarship in accurate representation and attribution of sources; and

displays accurate spelling, grammar, and punctuation.

Answer 1

In order to complete the following task, you will learn to read and understand the financial statements. Comprehending the picture such four-document summaries gives a company's financial performance is critical to making decisions regarding its management and its relation to the global economy and financial markets. 1) Please provide the given income statement and balance sheet terms in proper order: Taxes, Interest, gross profit, selling, general and administrative expenditures, sales, depreciation, total income, and cost of goods sold and EBITDA. 2) Please provide the given balance sheet terms in the suitable category as either short-term assets, long-term assets, long-term liabilities, short-term liabilities and/or owner's equity: Cash, accruals, accounts payable, plant and equipment, property, inventory, accounts receivables, retained earnings, paid in capital, notes payable, mortgage and accounts payable.